Mystery solved, Square introduces thinner card reader

On Sunday, we told you to expect an announcement from mobile credit card processing outfit Square. We didn't have a clue what would be announced until today when the company introduced a thinner credit card reader. The new reader is svelte, 45% smaller than the old one, measuring up at a tad over 7mm. If you need something to compare it to, how about an Apple iPhone 5s?

Square has enhanced the ol' swiper, making it more accurate, and the 3.5 inch jack is compatible with more devices. The new reader is available right now from Square's website and it will be at retailers early next year.

If you've never seen Square in action, it is a pretty cool app that works just as advertised. It allows merchants to be totally portable and still accept credit cards. It even allows merchants to capture a signature and send a receipt to the customer via email. Now that the card reader is smaller, there really is no excuse for a merchant on the go not to use Square, especially since the fees it charges are a lot less than the banks.

The new Square Card Reader on the right is 45% smaller than the old model

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